IPO-bound PhonePe announces UPI payments on feature phones

Fintech firm PhonePe announced rollout of UPI-based payments for feature phones with the purchase of GSPay technology stack from conversational engagement platform Gupshup.

GSPay is a mobile application built on top of UPI 123PAY, the UPI payment solution for feature phones by National Payments Corporation of India (NPCI). PhonePe said it will customise and extend the recently acquired GSPay IP and launch its own feature-phone based UPI payment mobile app on new feature phones in India, over the next few quarters.

PhonePe will offer basic UPI features,…